City house sales increase

THE number of house sales in Bundaberg has jumped by 21%, according to a new survey.

A report by PRDnationwide research analyst Josh Brown said the median house price had also grown by a modest 1.4% over the 12 months to September 2009, and was expected to increase.

“The median house price in the region is now $285,000,” Mr Brown said.

“Bargara experienced the most house sales, accounting for 77 settled transactions during the September half year.”

Mr Brown said a resale analysis was conducted to find out the average annual capital growth for houses resold in the Bundaberg market over the six months to September 2009.

“This analysis yielded a very strong average annual capital appreciation of 9.68% a year,” he said.

The houses had an average holding period of 6.4 years before resale.

Homeowners who sold in Avoca had the highest average annual capital growth in value of 11.27% a year, followed by Thabeban with 11.2% a year.

Units sold in Bundaberg achieved a 2.1% growth in median price to reach $275,000 – only $10,000 shy of the median house price, Mr Brown said.